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| 正面铭文 | REPUBLICA DOS ESTADOS UNIDOS DO BRASIL NO THESOURO NACIONAL 50 SE PAGARÁ AO PORTADOR DESTA A QUANTIDADE DE L 50 50 50 CINCOENTA MIL REIS VALOR RECEBIDO XAVIER DA SILVEIRA L 50 WATERLOW & SONS LIMITED, LONDRES. (Translation: Republic of the United States of Brazil in the National Treasury will be paid to the holder of this amount of Fifty Thousand Réis Amount Received Xavier da Silveira Waterlow & Sons Limited, Londres.) |
| 背面描述 | Violet intaglio reverse centred on a detailed vignette of the Monumento do Ipiranga (Ipiranga Monument) in São Paulo, flanked by the numeral 50 in the upper-left and lower-right of the central field. The surrounding frame carries the legend REPUBLICA DOS ESTADOS UNIDOS DO BRASIL, the Roman numeral L occupies the lower-left and upper-right corners, and the lower margin bears the denomination inscription CINCOENTA MIL REIS above the printer's imprint WATERLOW & SONS LIMITED, LONDRES. |
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Brazil's Thesouro Nacional relied heavily on Waterlow & Sons through the 1930s, and this note is one of the later impressions in a long-running series that extended well beyond its original design mandate — the "17ª Estampilha" designation marks it as the seventeenth printing iteration of a type that had been in circulation since the early twentieth century, updated and reissued to meet demand rather than replaced outright.
Waterlow's collapse into scandal and insolvency came in 1961 after the Portguese escudo forgery affair, but by 1936 the firm was still one of the most trusted security printers available to smaller and mid-tier sovereign issuers in the Americas.